FED BANK GRABS 33 MAIDEN FOR $208M

The Federal Reserve Bank of New York has snapped up 33 Maiden Lane from Hannover Leasing and a German closed-end fund managed by Invesco for $208M. (Wonder where it got the money? We bet you can’t walk more than three steps without touching some.)
The CBRE power team of Darcy Stacom, Bill Shanahan, and Paul Gillen marketed the property, which attracted strong attention, but ultimately went to the bank, which exercised an existing right to buy the building. (It currently occupies 75% of the 600k SF building, which is across the street from its HQ.) The seller originally acquired the building upon forming the closed-end fund in 2002 and chose to monetize the property (the financial equivalent of a superpower) as the fund nears the end of its investment life.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Dallas-Fort Worth Newsletters
Related Stories

What New York Can Learn From California's Push To Cut Environmental Red Tape

Miami Is 'Desperate' For A New Office Tower. It's About To Get 2

Joss Realty CEO, Executives Join Another Company's Real Estate Division

California Duo's Ponzi-Like Investment Scheme Unravels With Bankruptcy, SEC Charges

Bluerock Affiliate Acquires Sunnyvale Office Hub For $330.7M

Prominent Philly Caterer Sues Town Officials Over Vineyard Plans In Bucks County

Houston Firm Hires Former Floor & Decor Exec As President Of New Offering

Related Signs First Tenants At Madison Avenue Tower: The N.Y. Deal Sheet

Tishman Misses Payment Deadline On $450M International Square Loan

Investors Turn To Office Retrofits As Rents Rise And Tenants Stay Put

Deutsche Finance Alleges BVK Is Responsible For CRE Portfolio Losing $1B In New Lawsuit

Downtown Denver's Office Vacancy Is Still Above 30%. Reviving It Will Take A 'Big Investment'